Kyivstar collaborates with Ukraine’s Ministry of Digital Transformation to develop the nation's first Ukrainian-language LLM by December 2025.
Quiver AI Summary
VEON Ltd. announced a collaboration between Kyivstar, its digital operator in Ukraine, and the Ministry of Digital Transformation to create Ukraine's first national large language model (LLM) trained on Ukrainian-language data. This initiative, part of a broader pledge to invest USD 1 billion to enhance Ukraine's digital infrastructure from 2023 to 2027, aims to develop the LLM using open-source architectures while preserving the cultural and linguistic nuances of the Ukrainian language. The LLM will facilitate the secure processing of sensitive data and support applications in various sectors, including government, healthcare, and finance. The first version is expected to be released by December 2025. VEON CEO Kaan Terzioglu emphasized the project's role in fostering a sovereign AI ecosystem that aligns with Ukraine's digital transformation goals, while Kyivstar's CEO Oleksandr Komarov highlighted the initiative's focus on delivering locally relevant innovation.
Potential Positives
- VEON and Kyivstar are collaborating with Ukraine’s Ministry of Digital Transformation to develop Ukraine's first national large language model, showcasing a commitment to local innovation and digital sovereignty.
- The initiative promotes the secure processing of sensitive national data within Ukraine, addressing critical needs in sectors such as government, defense, healthcare, and financial services.
- This project aligns with VEON's pledge to invest USD 1 billion in rebuilding Ukraine’s digital infrastructure, emphasizing the company's commitment to supporting the nation's digital transformation.
- The Ukrainian LLM is expected to enhance AI-powered tools and services tailored specifically to Ukrainian users, addressing the AI language gap for underrepresented languages in VEON’s markets.
Potential Negatives
- The announcement includes a significant investment of USD 1 billion, which raises expectations for timely and effective implementation, putting pressure on VEON to meet these commitments amidst potential challenges in Ukraine.
- The reliance on open-source architectures for the LLM development could lead to perceived vulnerabilities regarding data security and compliance, especially given the emphasis on processing sensitive national data.
- The forward-looking statements indicate uncertainties related to strategic priorities and achieving anticipated results, which could affect investor confidence and market perception of VEON's plans.
FAQ
What is the purpose of the Ukrainian national large language model (LLM)?
The Ukrainian LLM aims to enhance digital services by supporting AI applications relevant to Ukrainian culture and language.
Who is involved in developing the Ukrainian LLM?
Kyivstar is collaborating with Ukraine’s Ministry of Digital Transformation and the WINWIN AI Centre of Excellence.
When will the Ukrainian LLM be released?
The first version of the Ukrainian LLM is scheduled for release by December 2025.
How will the LLM benefit Ukrainian users?
It will provide more accurate insights tailored to Ukrainian needs, enhanced by cultural context and local data.
What are VEON's commitments to Ukraine?
VEON has pledged to invest USD 1 billion to rebuild Ukraine’s digital infrastructure from 2023 to 2027.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VEON Hedge Fund Activity
We have seen 29 institutional investors add shares of $VEON stock to their portfolio, and 26 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HELIKON INVESTMENTS LTD removed 489,307 shares (-16.7%) from their portfolio in Q1 2025, for an estimated $21,338,678
- DIAMETER CAPITAL PARTNERS LP removed 463,279 shares (-73.8%) from their portfolio in Q1 2025, for an estimated $20,203,597
- CITIGROUP INC removed 279,508 shares (-92.0%) from their portfolio in Q1 2025, for an estimated $12,189,343
- LINGOTTO INVESTMENT MANAGEMENT LLP added 146,569 shares (+2.6%) to their portfolio in Q1 2025, for an estimated $6,391,874
- CIBC WORLD MARKET INC. added 120,270 shares (+inf%) to their portfolio in Q1 2025, for an estimated $5,244,974
- WELLINGTON MANAGEMENT GROUP LLP added 117,945 shares (+22.3%) to their portfolio in Q1 2025, for an estimated $5,143,581
- MORGAN STANLEY added 116,923 shares (+41.5%) to their portfolio in Q1 2025, for an estimated $5,099,012
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Full Release
Dubai and Kyiv, June 17, 2025:
VEON Ltd. (Nasdaq: VEON), a global digital operator, announces today that Kyivstar, VEON’s digital operator in Ukraine, has joined forces with Ukraine’s Ministry of Digital Transformation to develop Ukraine’s first national large language model (“LLM”) trained on Ukrainian-language data. The cooperation memorandum builds on VEON’s and Kyivstar’s pledge to invest USD 1 billion to rebuild Ukraine’s digital infrastructure over 2023-2027.
The parties plan to develop Ukrainian LLM using open-source architectures and trained exclusively on Ukrainian data sources. In addition to capturing the full range of Ukrainian dialects, terminology, history, and cultural context, the project is designed to ensure that sensitive national data is securely stored and processed within Ukraine, a critical requirement for sectors such as government, defense, healthcare, and financial services.
The LLM will also serve as the foundation for AI-powered products and services, including legal and regulatory analysis tools, as well as specialized AI applications across both public and private sectors including in fields like education, finance, and health. Trained on Ukrainian data, the model is expected to deliver more accurate, relevant, and actionable insights for Ukrainian users than general-purpose global models.
Kyivstar will develop the LLM in collaboration with Ukraine’s Ministry of Digital Transformation and the WINWIN AI Centre of Excellence. The first version of the Ukrainian LLM is scheduled for release by December 2025.
“Today’s agreement is major milestone in building a sovereign, secure and culturally relevant AI ecosystem to drive economic growth, while empowering Ukrainians with tools that enhance their lives,”
said Kaan Terzioglu, CEO of VEON Group. “
Ukrainian LLM will empower users to access augmented intelligence tools with the full cultural context and depth of their native language and national resources. We consider it a privilege to be supporting Ukraine’s digital transformation powered by AI. This initiative demonstrates the true meaning of our commitment to building Ukraine’s digital future with our investments.”
Oleksandr Komarov, CEO of Kyivstar, added,
“Leading the development of Ukraine’s national LLM is aligned with our vision as VEON’s digital operator in Ukraine. With Kyivstar’s deep technological expertise, AI capabilities, and commitment to national development, we are proud to contribute to Ukraine’s digital sovereignty while delivering locally relevant innovation that serves businesses, institutions, and citizens alike.”
The development of Ukraine’s first national LLM marks the latest expansion of VEON’s Group-wide initiatives to close the AI language gap for underrepresented languages across its markets, empowering solutions that augment capabilities for consumers and enterprises. The pioneering KazLLM, launched in Kazakhstan in December 2024 as a partnership of VEON’s QazCode, Institute of Smart Systems and Artificial Intelligence at Nazarbayev University (ISSAI NU) and Astana Hub, today powers the “AI Tutor” on Janymda super-app. In Pakistan, VEON’s digital operator Jazz is collaborating with the National University of Sciences and Technology (NUST) and the National Information Technology Board (NITB) to develop a local LLM in Urdu language.
About VEON
VEON is a Nasdaq-listed digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. For more information visit:
www.veon.com
.
About Kyivstar
Kyivstar is Ukraine’s largest digital operator, serving over 24 million mobile subscribers and 1.3 million fixed-line users. As VEON’s digital operator in Ukraine, Kyivstar offers a comprehensive portfolio of digital services to individuals and businesses, with a strong focus on AI-powered innovation and national digital development.
Disclaimer
This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s strategic priorities, operating model and development plans as well as VEON’s ability to achieve anticipated results and business objectives. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communications
pr@veon.com
Investor Relations
ir@veon.com
ward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communications
pr@veon.com
Investor Relations
ir@veon.com
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